Snoop Dogg has remained relevant throughout the years and in a recent interview gave his thoughts on crypto and the future of NFTs.
Snoop is a man to be taken seriously. His versatility in music and on the screen has been channelled into his business ventures. From record labels to the cannabis industry, there are no avenues where the entertainer has not witnessed success.
This can be evidenced in his latest moves in the digital space. The artist was one of the first mainstream media personalities to take the NFT space seriously and recently released a music video with Snoop and Eminem as BAYC avatars.
Snoop Dogg’s Entry into the NFT Space
Snoop started his journey into the NFT space by collecting some of the most prevalent NFTs in the market. He believes the world is headed towards a future where business will shift into the Metaverse. His virtual property ownership on Sandbox shows that he is highly confident in this space, despite the current questionable valuation of digital assets. Regardless of all the concerns that experts are sharing, Snoop is not one to back out and does not have any doubts about the market recovering.
Snoop Dogg’s Take on the Current Crypto Crash
In a recent interview, Snoop was open to admitting that the digital assets space is in a downfall. However, he confides that every great industry faces a downtrend at some stage. He also shared his oversight over other sectors and explained the depression surrounding all markets in the current economy. Some industries he pointed out included alcohol, tobacco, food, and clothing. Ultimately, his encompassing point was, “Every great industry has a downfall.”
Weeding Out Bad Players from the Market
He also mentioned that declines in specific industries and spaces tend to “weed out” the wrong players. According to Snoop, the bad players in the sector destroy opportunities for people that want to do good. NFT abusers have always existed in the marketplace, often resorting to unethical trading practices and disrupting the space.
How Snoop Dogg Plans to Integrate Ventures into Web3
Snoop Dogg’s love for the industry allows other partnerships to build around his plans in the Web3 space. In the interview, Snoop also agreed that NFTs have a significant hole to fill in the music industry. The Web3 and NFT business collides eloquently with Snoop’s interest in music. Snoop believes that record labels will realize that catalogues and audio ownerships can be better managed and regulated on the blockchain.
Snoop Dogg’s Newest Web3 Entry
The duo of Snoop and his son, Cordell Broadus, is already building an empire in the Web3 space, while most others are only entering the space and trying to catch up. Snoop Dogg has made a name in the industry and has ideas for new projects that will launch in coming months to much fanfare.
One of his latest ventures in the metaverse space includes collaboration with his son on a BAYC-themed dessert restaurant. The venture came into existence when Snoop and his son had the restaurant idea and teamed up with the Food Fighters Universe.
In a press release at the time, he stated, “Food Fighters Universe is linking food with Web3 and paving a road with real-life utility for NFTs.”